Question

can someone please help me with a simple interest problem?
A woman invested $9000 in two mutual funds. In one year part of her investment earned 5% simple interest and the other part earned 6% simple interest. At the end of that year, the woman had earned $471. How much did she invest at each rate?

Answer 1

x+y=9000
0.05*x+0.06*y=471

Answer 2

you must solve these system of equations

Answer 3

oh i see

Answer 4

i just never understand how to set it up

Answer 5

thankyou kind sir

Answer 6

You are welcome :)

Answer 7

okay wait

Answer 8

i have those equations, but I'm not sure what to do with them now...

Answer 9

@dan815

Answer 10

Okay so, we can solve for Y in terms of x, in the first equation and plug that into the 2nd equation and solve for x

Answer 11

and how do you do that

Answer 12

\[x+y=9000\\
y=9000-x\\
0.05*x+0.06*y=471\\
0.05*x+0.06*(9000-x)=471\\
-0.01x+0.06(9000)=471\\
x=\frac{(471-0.06*9000)}{-0.01}\\
after ~you~find~'x'~you~ can~ find~'y'~by~x+y=9000~~equation
\]